Wednesday, January 25, 2012

The 3 best books to help you stop living paycheck to paycheck

Tired of living paycheck to paycheck? Can't quite get a handle on those personal finances? So many of us think we learned all we needed to know about money in school but the truth is we were simply taught how to be good consumers. Were you told to get good grades so you could get a good job once you graduated? Has anyone asked for your report card since then? Do you know what a financial statement is? Well, a financial statement is your report card in the real world. Looking back I cringe to think of all the time and money I wasted before learning the facts about money.

Not until I began teaching personal finance to our own children did I learn the truth about money. After countless hours of reading and research I am able to narrow my recommended reading list of financial books to the following three: Rich Dad, Poor Dad and Increase Your Financial IQ by Robert Kiyosaki and The Laws of Success in 16 Lessons by Napoleon Hill. 

Kiyosaki will teach you the difference between poor people and rich people in easy to understand terms. In his books you learn how to write and read a simple financial statement, your report card for the real world. Forget everything you ever learned in business and accounting classes because Kiyosaki turns everything you ever learned on its head. Both books are an easy read but very enlightening.

Napoleon Hill was hired by Andrew Carnegie in the early 1900's to observe the wealthiest men in America for 20 years. Hill published his findings in 1928. This book is out of print but can be obtained online for free or you can buy a copy on CD at eBay. Not only will you learn about finance but also how to generally succeed in life. Once Hill's book was published it caused an uproar within the circle of those interviewed so Hill published a watered down version ten years later titled Think & Grow Rich. If you want the full effect of his findings you need to read the original book.

These are not get rich quick books. Building wealth and getting out of ridiculous debt takes time. Use these books in your homeschool as building blocks to financial freedom. Many of us are concerned with the present economy in this country. Those depending on the government coming to their rescue are in for a frightening surprise when they realize there is nothing left in the coffers. Learn the difference between assets and liabilities. Learn how building a business can make you wealthy. Learn to invest. Learn to be financially free and be able to sleep at night knowing you can help your children have a better and brighter future.

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